Simplicity Solutions LLC Buys Shares of 20,398 Frontier Group Holdings, Inc. (NASDAQ:ULCC)

Simplicity Solutions LLC purchased a new position in shares of Frontier Group Holdings, Inc. (NASDAQ:ULCC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,398 shares of the company’s stock, valued at approximately $111,000.

Several other institutional investors and hedge funds have also made changes to their positions in ULCC. Royal Bank of Canada raised its position in Frontier Group by 45.7% during the third quarter. Royal Bank of Canada now owns 3,387 shares of the company’s stock worth $32,000 after acquiring an additional 1,062 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Frontier Group during the third quarter worth about $25,000. PNC Financial Services Group Inc. raised its position in Frontier Group by 632.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,768 shares of the company’s stock worth $28,000 after acquiring an additional 4,980 shares during the last quarter. Signaturefd LLC acquired a new position in Frontier Group during the third quarter worth about $28,000. Finally, CWM LLC raised its position in Frontier Group by 1,705.7% during the third quarter. CWM LLC now owns 6,627 shares of the company’s stock worth $32,000 after acquiring an additional 6,260 shares during the last quarter.

Frontier Group Price Performance

Frontier Group stock opened at $6.96 on Monday. Frontier Group Holdings, Inc. has a 1 year low of $3.19 and a 1 year high of $10.57. The firm has a 50 day moving average price of $7.36 and a 200 day moving average price of $5.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.48 and a current ratio of 0.53.

Insider Activity at Frontier Group

In related news, CEO Barry Biffle sold 151,620 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $7.72, for a total value of $1,170,506.40. Following the completion of the sale, the chief executive officer now directly owns 772,981 shares in the company, valued at $5,967,413.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 81.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on ULCC shares. Barclays lifted their target price on shares of Frontier Group from $7.00 to $9.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Morgan Stanley restated an “equal weight” rating and set a $8.00 target price (down previously from $10.00) on shares of Frontier Group in a research report on Monday, January 8th. Evercore ISI lifted their target price on shares of Frontier Group from $7.00 to $8.50 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America reiterated a “neutral” rating and set a $6.00 price target (down from $8.00) on shares of Frontier Group in a report on Tuesday, January 9th. Finally, Susquehanna lifted their price target on shares of Frontier Group from $5.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.78.

Frontier Group Profile

Frontier Group Holdings, Inc, provides low-fare passenger airline services to leisure travelers in the United States and Latin America. The company sells its products through direct distribution channels, including its website, mobile app, and contact centers. As of December 31, 2023, it had a fleet of 136 Airbus single-aisle aircrafts.